MidCap Financial

MidCap Financial is a specialty finance firm focused on providing senior debt solutions to middle-market companies across diverse industries in the United States. Established in 2008 and headquartered in Bethesda, Maryland, it offers a range of financing products including asset-based revolving credit facilities, leveraged loans for private equity-backed transactions, venture debt for life sciences and technology firms, real estate lending, franchise finance, and lender finance.

The company is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc., which oversees its operations and investment activities. Since its founding with initial equity commitments, MidCap Financial has expanded rapidly, reaching over $60 billion in committed capital by 2025 through organic growth and strategic partnerships. It emphasizes flexible, tailored financing structures and maintains ongoing relationships with borrowers throughout the loan term.

MidCap Financial operates primarily through entities such as MidCap FinCo LLC and related trusts, serving as a key player in the direct lending and specialty finance sector. It has been involved in numerous transactions, including acting as the lender for revolving credit facilities for companies like Arq, Inc., demonstrating its role in supporting business growth and refinancing needs in the middle market.